After the independence of Azerbaijan and Armenia, the Karabakh problem ceased to be an internal problem of the USSR and transformed into a regional and even a global problem. The South Caucasus has gained importance in world geopolitics since the 1990s due to the oil and natural gas transportation lines. Armenia, which has appeared to be an unstable country due to the Karabakh conflict, has not benefited from any regional project. Moreover, Türkiye has restricted transportation opportunities in Armenia. Because of the war with Azerbaijan. Armenia has become an isolated country. Thus, the government has become largely dependent on Russia politically and economically. Also, the war has almost caused the country’s economy to the verge of bankruptcy. The Tripartite Declaration concluded between Russia, Azerbaijan, and Armenia on November 10, 2020, has brought collaboration opportunities for these countries and Türkiye. It has been concluded that increasing economic cooperation will also contribute to solving the countries' political problems. Additionally, the scope of economic diplomacy, particularly Türkiye's application of soft power elements, can positively affect Armenian public opinion and relations between the two countries.
Can et al. (Sat,) studied this question.